SINGAPORE – Around 16,000 to 17,000 Build-To-Order (BTO) flats will be launched in 2020 to meet additional demand following key policy changes this year, National Development Minister Lawrence Wong announced in a blog post on Monday (Dec 16) morning.

The projected number of BTO flats for next year is more than this year’s supply of 14,000 flats.

The Ministry of National Development raised the income ceiling in September for eligible first-time home buyers and introduced a new Enhanced Central Provident Fund (CPF) Housing Grant.

More young couples benefited from the increased housing subsidies for their first Housing Board flat, enjoying up to $80,000 in grants when they buy a new flat and up to $160,000 in grants when they buy a resale flat in the open market.

These policy changes will lead to greater demand for public housing, said Mr Wong. 

He also said that the Government will invest significantly in the upgrading of HDB estates so that existing HDB flats remain good homes for their owners.

He noted that the Government has spent about $3 billion on various HDB upgrading programmes over the last five years.

“In the coming years, we will continue to do more to provide better, greener and smarter homes across all HDB precincts,” he added.

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